COVID-19 has changed the landscape of our communities in ways we never could have imagined.
While each of us has been affected, small and independently owned businesses have certainly felt the brunt of the impacts.
Recognizing that small businesses are the backbone of our community, Wake County has launched Wake Forward, a small business relief program that aims to provide loans to small business owners struggling financially due to COVID-19. The goal is to help them in the short-term, so they can get back on their feet in the long-term.
Wake Forward allocates $5 million in total to support small businesses in Wake County, with $1 million of that funding set aside for sole proprietor businesses.
The program, which is administered by the NC Rural Economic Development Center Inc., enables small businesses to apply for two months of lost revenues, up to $50,000.
To be considered for Wake Forward funding, businesses must be located in Wake County and have between 1 – 100 full-time employees.